India’s Dominance in Digital Transactions Shaping Its New Identity: PM Modi
During his address at the 17th Indian Cooperative Congress, Prime Minister Narendra Modi highlighted India’s growing prominence in the world of digital transactions, which he believes has become the country’s new identity. He emphasized the need to incorporate this aspect into the cooperative sector as well.
Under the government’s Digital India initiative, the Prime Minister stated that direct benefits are now being delivered to beneficiaries, thereby reducing the reliance on cash transactions. He further highlighted that India’s dominance in digital transactions has become a recognized feature in the global arena.
The Prime Minister underscored the significance of integrating this digital revolution into the cooperative sector. He noted that in the past four years, the PM-KISAN scheme has facilitated a direct transfer of Rs 2.5 lakh crore into the bank accounts of farmers, eliminating intermediaries and ensuring direct benefit delivery.
PM Modi also highlighted the government’s commitment to the agricultural sector, stating that India has transitioned from spending less than Rs 90,000 crore in five years before 2014 to now having the PM KISAN Samman Nidhi scheme, which spends three times that amount alone. He further emphasized the potential of Indian produce, such as milk powder, butter, ghee, and millets, in capturing the global market.
The Indian Cooperative Congress, being held at the International Exhibition-cum-Convention Centre (IECC) in New Delhi, aims to discuss trends, showcase best practices, deliberate challenges, and chart future policy directions for India’s cooperative movement. The two-day event will include seven technical sessions under the theme Amrit Kaal: Prosperity through Cooperation for a Vibrant India.
More than 3,600 stakeholders, including cooperatives ranging from the primary level to the national level, international cooperative organizations, representatives from the International Cooperative Alliance, ministries, universities, and esteemed institutions, are participating in the congress.
As the Prime Minister strives to incorporate digital transactions into the cooperative sector, India’s reputation in the digital sphere continues to grow. This shift not only enhances transparency and efficiency but also paves the way for a prosperous future for the country’s cooperative movement. With its focus on embracing technology, India is poised to make significant strides in the global digital landscape.
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